ADTRAN Holdings, Inc. (NASDAQ:ADTN) Receives Average Rating of “Moderate Buy” from Brokerages

ADTRAN Holdings, Inc. (NASDAQ:ADTN) has been given an average rating of “Moderate Buy” by the six analysts that are presently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and four have issued a buy recommendation on the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $13.50.

ADTN has been the topic of a number of recent research reports. Rosenblatt Securities reissued a “buy” rating and set a $11.00 price objective on shares of ADTRAN in a research note on Wednesday, November 5th. B. Riley assumed coverage on ADTRAN in a report on Thursday, September 18th. They set a “buy” rating and a $16.00 price target on the stock. Weiss Ratings reissued a “sell (e+)” rating on shares of ADTRAN in a research report on Wednesday, October 8th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $12.00 price objective on shares of ADTRAN in a report on Tuesday, November 25th.

ADTRAN Stock Down 0.1%

ADTN stock opened at $8.68 on Monday. The company has a current ratio of 1.96, a quick ratio of 1.23 and a debt-to-equity ratio of 1.54. The firm has a 50-day moving average of $8.49 and a two-hundred day moving average of $8.95. ADTRAN has a 12 month low of $6.93 and a 12 month high of $12.44. The company has a market cap of $695.44 million, a price-to-earnings ratio of -8.11 and a beta of 1.35.

ADTRAN (NASDAQ:ADTN) last issued its earnings results on Friday, March 15th. The communications equipment provider reported $0.89 earnings per share for the quarter. ADTRAN had a negative return on equity of 4.63% and a negative net margin of 8.44%.The business had revenue of $358.27 million for the quarter. As a group, analysts forecast that ADTRAN will post -0.5 earnings per share for the current fiscal year.

Insider Activity

In other ADTRAN news, CFO Timothy P. Santo acquired 6,150 shares of the firm’s stock in a transaction that occurred on Friday, November 28th. The shares were purchased at an average cost of $8.02 per share, for a total transaction of $49,323.00. Following the completion of the acquisition, the chief financial officer owned 26,594 shares of the company’s stock, valued at approximately $213,283.88. The trade was a 30.08% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Thomas R. Stanton acquired 40,928 shares of the stock in a transaction that occurred on Monday, November 24th. The stock was acquired at an average price of $7.33 per share, with a total value of $300,002.24. Following the completion of the transaction, the chief executive officer directly owned 982,096 shares of the company’s stock, valued at $7,198,763.68. This trade represents a 4.35% increase in their position. The SEC filing for this purchase provides additional information. Insiders bought a total of 59,937 shares of company stock valued at $449,754 in the last 90 days. Company insiders own 1.50% of the company’s stock.

Hedge Funds Weigh In On ADTRAN

Large investors have recently modified their holdings of the business. Alyeska Investment Group L.P. purchased a new position in shares of ADTRAN during the 3rd quarter worth $10,168,000. SG Capital Management LLC purchased a new stake in ADTRAN in the 2nd quarter valued at about $7,601,000. Assenagon Asset Management S.A. lifted its position in ADTRAN by 691.6% in the third quarter. Assenagon Asset Management S.A. now owns 932,680 shares of the communications equipment provider’s stock valued at $8,749,000 after buying an additional 814,864 shares during the last quarter. Schonfeld Strategic Advisors LLC boosted its stake in ADTRAN by 5,809.7% during the third quarter. Schonfeld Strategic Advisors LLC now owns 786,823 shares of the communications equipment provider’s stock worth $7,380,000 after buying an additional 773,509 shares during the period. Finally, Tudor Investment Corp ET AL increased its position in shares of ADTRAN by 434.2% during the third quarter. Tudor Investment Corp ET AL now owns 897,115 shares of the communications equipment provider’s stock valued at $8,415,000 after acquiring an additional 729,194 shares during the last quarter. Institutional investors and hedge funds own 80.56% of the company’s stock.

About ADTRAN

ADTRAN, Inc is a global provider of networking and communications equipment, specializing in broadband access solutions for service providers, enterprises and government organizations. Founded in 1985 and headquartered in Huntsville, Alabama, the company develops and delivers hardware and software platforms that enable high-speed Internet access over fiber, copper and wireless networks. Its core offerings include fiber access and aggregation equipment, Ethernet switches, customer premises equipment (CPE) and network management systems designed to support both legacy and next-generation broadband deployments.

The company’s product portfolio encompasses a broad range of optical line terminals (OLTs), optical network terminals (ONTs), multiservice access gateways and virtualized access solutions.